Debt collection agencies news

• Appointment of Administrators Notices – 17th January 2018

  17-01-2018 17:42
  Daily listing of appointed Administrators
  
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• Scottish Man sent to prison after ‘trying’ to collect Business Debt

  06-06-2024 10:37 via ukdcnews.co.uk
  
  A Scottish man who decided to recklessly act as a unlicensed Debt Collector recovering a business debt, has been punished in the courts for his unlawful actions.
  The man banged on a customers door and shouted threats in the middle of the night over an unpaid business debt has been subsequently jailed.
  The unpaid business debt is believed to have been owed to the mans employer.
  Christopher Bett, 34, of Cardenden, appeared for sentencing at Dunfermline Sheriff Court.
  He admitted that on September
  
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• Iconic UK Bicycle manufacturer enters liquidation

  05-06-2024 13:00 via ukdcnews.co.uk
  
  An iconic bicycle manufacturer is to enter voluntary liquidation after almost 80 years crafting and designing bicycle frames.
  Mercian Cycles, based in Derby, launched in 1946 and has continued to create bespoke bikes by hand throughout its history.
  Its products have been used by cyclists who have set world records and individuals who have undertaken trips around the globe.
  Opus Business Advisory Group, which is acting for the company, has confirmed Mercian Cycles is in the process of entering vo
  
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• Debt Relief Orders hit record numbers

  05-06-2024 08:46 via ukdcnews.co.uk
  
  A record number of Debt Relief Orders (DROs) were taken out in April, as the £90 fee for the insolvency option was scrapped.
  DROs are available to those on low incomes and clear existing debt on everything from council tax to energy bills and rent.
  Some 3,436 Debt relief orders were taken out in April – the highest monthly number since they were introduced in 2009, figures from the Insolvency Service, external show.
  It drove a rise in the total number of insolvencies in Eng
  
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• Mortgage Borrowing decreasing in 2024

  04-06-2024 14:26 via ukdcnews.co.uk
  
  UK Finance has released its latest Household Finance Review for Q1 2024 with the reporting highlighting that mortgage borrowing has decreased when compared with the same period the year before, despite a rise in mortgage applications at the end of 2023.
  Towards the end of last year as mortgage borrowing rates started to reduce, there was a noticeable uptick in the number of mortgage applications. This suggested the market might see a recovery in the first half of 2024 as the applications followe
  
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• RS Group Maintains An Unparalleled Lead In Quality In Sounder Beacon

  04-06-2024 14:13 via ukdcnews.co.uk
  
  An emergency can disrupt your flow and cause massive havoc. Mass discord and hysteria among people can lead to more casualties. Therefore, emergency alert systems have emerged as a valuable tool to mitigate such risks. Among these, sound beacons have become a valuable contributor. 
  While countless options are available to select sounder beacons, RS Group has surpassed quality expectations. With their RS Pro Range, they are achieving new benchmarks. Here is a brief evaluation of RS Group&rsq
  
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• Small Businesses owed £23k on average amid rising energy bills

  03-06-2024 17:01 via ukdcnews.co.uk
  
  Small businesses were owed almost £23,000 in late payments for a month, according to new data, adding to the sky-rocketing energy bills that are piling pressure on concerned business owners.
  Late payments totalled £22,700 for the average small business, with at least one overdue invoice in May, representing a 6% year-on-year rise.
  This amounts to 65% of their average monthly turnover, new data from accounting software Intuit QuickBooks showed.Companies are expected to pay most invoic
  
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• US Company seizes Football club over large Unpaid Debt

  03-06-2024 10:47 via ukdcnews.co.uk
  
  US investment fund Oaktree Capital Management has taken control of Italian champions Inter Milan after the football club’s previous owners, Chinese conglomerate Suning International Holdings, defaulted on a large unpaid debt of £335m.
  Suning’s debt relates to a loan of €270m taken out in 2021, which has accrued interest at 12 per cent and was due for repayment on Tuesday. The default entitles Oaktree to Suning’s stake, although it must pay for the share according to
  
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• April saw surge in Company Insolvency says latest data

  31-05-2024 09:50 via ukdcnews.co.uk
  
  The latest Insolvency Service figures for April 2024 show there was a startling rise in Company Insolvencies.
  England and Wales witnessed a significant rise in company insolvencies, marking an 18.4% increase from March 2024 and a 5.4% uptick compared to April 2023.
  The total number of registered business insolvencies for the month reached 2,177, comprising 300 compulsory liquidations, 1,715 creditors’ voluntary liquidations (CVLs), 144 administrations, and 18 company voluntary arrangements
  
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• TV Soap legend being chased for £100k debt

  16-05-2024 14:33 via ukdcnews.co.uk
  
  Former Coronation Street legend Beverley Callard is currently under investigation after her acting firm failed to settle a £100,000 tax bill.
  The Liz McDonald star, 67, is under investigation by the HMRC after failing to pay £215,000 in debts, according to The Mirror.
  Beverley and her husband Jon McEwan launched the company in 2020 when she left top soap Coronation Street to supplement their income.
  But despite earning millions over the years, the couple repo
  
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• 32,000 UK Homes at risk of repossession

  15-05-2024 12:55 via ukdcnews.co.uk
  
  New research by Mojo Mortgages has found that 32,000 mortgaged properties at risk of being repossessed.
  The research also found that there were 96,580 homeowner mortgages in arrears of 2.5% or more of the outstanding balance, representing a 3% increase from the previous quarter.
  Within this group, 32,470 mortgages were in the most severe bracket, with mortgage arrears exceeding 10% of the balance, marking a 6% increase compared to the previous quarter.
  The increase in mortgage rates has been dri
  
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• Investigation launched into Council’s huge Unpaid debt pile

  14-05-2024 08:08 via ukdcnews.co.uk
  
  The government has ordered an investigation into Warrington Borough Council as figures reveal it is almost £1.85 billion debt.
  It follows a report which found the council is the most indebted unitary authority in the country, with “their portfolio of debt-funded investments… concerning” which put not only the council at risk, but could also have “significant impact” for local residents.
  The report also raised “some concerns with decision-makin
  
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• Solicitor fined due to Invoice late payment

  13-05-2024 14:33 via ukdcnews.co.uk
  
  A solicitor has been fined more than £1,000 due to invoice late payment. It was found that the solicitor failed to pay an invoice for legal fees within a reasonable time frame.
  James Lothian Brunton also failed to cooperate with the Solicitors Regulation Authority’s (SRA) investigation into his failure to perform an undertaking to Matthew Waite & Co.
  The regulator said Brunton, a solicitor at Brunton & Co (incorporating D.Emrys Williams & Co), in Ceredigion, Wales, &lsquo
  
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• English Football Legend banned from being a Company Director

  26-04-2024 11:55 via ukdcnews.co.uk
  
  John Barnes, the former England and Liverpool footballer, has been banned as a company director after his business failed to pay tens of thousands of pounds in tax.
  John Barnes Media Limited failed to pay more than £190,000 in corporation tax and VAT between 2018 and 2020, it was revealed following an investigation by the Insolvency Service. HMRC was the firm’s only known creditor when it ceased trading.
  As a result Barnes, whose busi
  
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• Timeshare Company closed down due to huge fraud

  24-04-2024 09:10 via ukdcnews.co.uk
  
  A Timeshare risk management company which claimed to help people exit their timeshare contracts in Tenerife has been shut down leaving clients at a loss
  Timeshare Legals Limited was wound-up following investigations by the Insolvency Service which found no proper accounting records, hundreds of clients left with unfulfilled claims and the transfer of client funds to a company in Spain with the same name, Timeshare Legals SL, and the same director, creating a lack of transparency.
  Timeshare Lega
  
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• Insolvency rising again says Trade body

  15-04-2024 10:03 via ukdcnews.co.uk
  
  INSOLVENCY activity has again increased in the south east, according to the UK’s insolvency and restructuring trade body.
  R3 figures showed a rise in this activity from 246 in February to 261 in March, remaining consistent with the 12-month high of 277 in March 2023.
  The body has warned trends are continuing to rise, following its analysis of data from Creditsafe.Data also showed the number of firms in liquidation which owed money to their creditors remained static at 377 in March, up
  
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• Retail Insolvencies climb 19% in the UK

  11-04-2024 12:54 via ukdcnews.co.uk
  
  New analysis by Mazars has found that the number of insolvencies by retailers has increased 19% in the past year to 2,195 in 2023/24 up from 1,843 in 2022/23.
  High profile retail insolvencies include The Body Shop in February, as well as fashion brand Ted Baker and online luxury fashion retailers MatchesFashion and Farfetch.
  Cautious consumer spending, and higher interest rates have also impacted the rise. Retail sales have also dropped, with total in-store and online sales falling 2.2% in March
  
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• Haulage firms named in Business Late payers list

  27-03-2024 09:50 via ukdcnews.co.uk
  
  Well known transport, distribution and haulage firms have cropped up in a list naming and shaming both late and serially-late payers of invoices.
  The “rogues gallery” included Ceva Logistics, Reed Boardall, Brake Bros and Jack Richards & Son.
  However, Leicestershire-based Samworth Brothers was praised for making a big improvement in its payment performance.
  Research by campaign group Good Business Pays (GBP) found there had been a 20% increase in companies reporting average paym
  
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• Plant Hire firm enters liquidation despite nearly 50 years of trading

  15-03-2024 11:21 via ukdcnews.co.uk
  
  A well known Scottish plant hire firm has entered liquidation after near half a century of trade.
  All jobs have been lost at a Fife based plant hire firm James Penman (Plant hire) Limited as it was put into liquidation despite trading nearly 50 years.
  Thirty five members of staff have been made redundant at family-run James Penman Plant Hire in Kirkcaldy after joint provisional liquidators were appointed on Tuesday, March 5.
  The company had been trading since being founded in 1974 by James Penma
  
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• Martin Lewis investigates shady actions by UK Debt Collection Company

  13-03-2024 11:11 via ukdcnews.co.uk
  
  In the United Kingdom, an intriguing scenario has surfaced within the UK’s debt collection sector and the infamous Martin Lewis.
  This involves the controversial activities of a UK Debt Collection company, Barratt Smith Brown, who have been accused of sending emails with a signature resembling that of the globally renowned late pop singer, Michael Jackson.
  This shocking revelation emerged as part of an investigative process carried out by Martin Lewis and his MoneySavingExpert platform. (MS
  
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• Surge in Unpaid Rental Arrears says Industry supplier

  08-03-2024 11:41 via ukdcnews.co.uk
  
  Data released from Reposit, a deposit alternative service, reveals what it calls “a concerning surge in rent arrears” during the final quarter of last year as the economic climate took its toll on tenants.The data reveals an uptick in the value of typical rent arrears claims from October’s £1,344 to  £2,108 in November, and maintaining high levels at £1,954 in December. Concurrently, the percentage of tenancies concluding with arrears rose from 13.7 per c
  
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• Small Business late payment costing SMEs £1.6Bn

  07-03-2024 10:49 via ukdcnews.co.uk
  
  Small Business Late Payment and the cost of such has more than doubled in the past two years, reaching £1.6 billion at the end of 2023, according to a report by Xero.
  The latest quarterly data shows small firms were paid, on average, 6.1 days late during the last three months of 2023. This figure shows no signs of improving, with the average payment still received over a working week beyond the agreed terms.
  The current trading conditions are being added to by the growing cost of small bus
  
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• 10% rise in Business Insolvencies predicted by Experts

  05-03-2024 10:05 via ukdcnews.co.uk
  
  UK Business insolvency could increase by 10% this year, according to research by Allianz.
  The insurer’s global insolvency outlook revealed that 15% of small and medium-sized businesses in the UK are at risk of going bust, the highest proportion in Europe. This is compared to 14% in France, 9% in Italy, and 7% in Germany.
  Sectors such as retail, manufacturing, construction, and real estate are particularly vulnerable due to weaker demand and higher borrowing costs.
  Allianz predicts that as
  
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• Actors resorting to Debt Recovery action to get paid

  01-03-2024 09:51 via ukdcnews.co.uk
  
  A large number of Actors from shows such as Call the Midwife, have had to resort to taking debt recovery action to ensure they get paid according to reports in the Deadline.
  Mad Dog 2020 Casting, a 25-year-old British agency that supplies background actors to major productions, is facing legal debt recovery action after failing to pay scores of clients.
  Legal Debt Recovery Action
  Equity and Bectu, two of the most prominent UK creative industry unions, are pursuing legal debt recovery c
  
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• 1 in 3 Small Business owners fears closure this year

  29-02-2024 11:27 via ukdcnews.co.uk
  
  Nearly one in three (31%) of small business owners anticipate the potential closure of their businesses by the end of 2024 according to research by Novuna Business Cash Flow.
  Novuna says that the prospect of numerous businesses facing closure is sobering, a reality underscored by a recent ONS report, showing just 3% of businesses had temporarily halted trading in the month of February 2024, with only 2% having shut down permanently.
  The findings also shed light on the challenges leading to poten
  
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• 1 in 3 Small Business owners fear closure this year

  29-02-2024 11:27 via ukdcnews.co.uk
  
  Nearly one in three (31%) of small business owners anticipate the potential closure of their businesses by the end of 2024 according to research by Novuna Business Cash Flow.
  Novuna says that the prospect of numerous businesses facing closure is sobering, a reality underscored by a recent ONS report, showing just 3% of businesses had temporarily halted trading in the month of February 2024, with only 2% having shut down permanently.
  The findings also shed light on the challenges leading to poten
  
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• Number of Restaurants closing hits new high in the UK

  28-02-2024 11:48 via ukdcnews.co.uk
  
  The number of restaurants closing across Britain hit a new quarterly high at the end of 2023, with more than 500 closing.
  There were 514 restaurants closing permanently across England, Scotland and Wales in the final quarter of last year, compared to 481 in Q2 2023, according to data obtained under the Freedom of Information Act by accountancy firm Price Bailey.
  The research showed that 1,932 restaurants entered insolvency in 2023, equating to an average of more than five closures per day, up fr
  
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• Council calls off Bailiffs chasing Unpaid School dinner fees

  26-02-2024 09:49 via ukdcnews.co.uk
  
  A local authority exposed by the Sunday Mail for using debt collectors to chase school meal arrears has ditched the policy.
  Scottish Renfrewshire Council had last year enlisted Sheriff Officers to chase hard up families over unpaid canteen bills. Officials initially denied the story before confirming it – but they have now abolished the practice after holding a review.
  A revised process with an emphasis on “pastoral support and helping families experiencing financ
  
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• Football Club facing liquidation unless buyer found

  22-02-2024 12:42 via ukdcnews.co.uk
  Well known Northern English Football club Rochdale FC are facing the very real prospect of liquidation as things stand.
  Rochdale currently sit mid-table in the National League and its not just on the field that they have being having problems.
  They need new investment by the end of March otherwise the National League club could face the prospect of liquidation, chairman Simon Gauge has warned.Rochdale were relegated from the English Football League last season after 102 years but have faced maj
  
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• Debt ridden TV Celebrity has horse seized by Bailiffs

  21-02-2024 11:17 via ukdcnews.co.uk
  
  Debt ridden TV celebrity Katie Price has been hit by another devastating blow amid her battle with bankruptcy, as her beloved horse has reportedly been taken away by bailiffs.
  The reality star already owes thousands of pounds in unpaid tax, and neighbours are now claiming her beloved steed Wallis has been taken away until she repays her debts.
  Katie purchased her horse for £250,000 back in 2009, and regularly shares snaps of him on social media.
  But neighbours claimed that t
  
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